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TORONTO \u2014 Citing the \u201ccomplicated\u201d nature of pensions and need for all provinces and territories to weigh in, Finance Minister Chrystia Freeland would not provide a specific timeline for determining how much Alberta would be entitled to if it leaves the Canada Pension Plan.<\/p>\n
Speaking after a meeting with her provincial and territorial counterparts, Freeland said officials reported back to the group Friday about the work involved with arriving at the number, which she requested from the chief actuary in November.<\/p>\n<\/div>\n
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Those officials suggested they needed to meet again in January to discuss progress, \u201cand we all agreed that was a good idea,\u201d she said.<\/p>\n
The ministers held a special meeting last month to discuss Alberta Premier Danielle Smith\u2019s push to quit the Canada Pension Plan for an Alberta-only version.<\/p>\n
Smith began her push to exit CPP in September, when she released a Lifeworks report estimating Alberta is entitled to $334 billion, or 53 per cent, of the Canada Pension Plan if it starts its own pension program.<\/p>\n
Other economists, including those with the Canada Pension Plan Investment Board, believe Alberta\u2019s share is closer to its percentage of the CPP membership, at about 15 per cent.<\/p>\n
To settle the debate, Freeland is seeking a number from the chief actuary, but when pressed Friday about whether it could take months or even until summer to arrive at that figure, she offered no timeline.<\/p>\n
\u201cI learned during the North American Free Trade Agreement negotiations never to answer hypothetical questions. It\u2019s not a good idea for an elected political leader,\u201d she said.<\/p>\n
\u201cWhat I think was very clear in the conversation today, when we heard back from officials was how technical this work is \u2026 we agreed that we\u2019re going to do the work and define the tasking very carefully, very deliberately and crucially, really transparently.\u201d<\/p>\n<\/div>\n
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Freeland said some ministers were \u201cemotional\u201d talking about the pension issue because many people are anxious about it and the certainty of receiving a pension is a \u201chuge comfort\u201d to Canadians.<\/p>\n
After the day\u2019s meeting wrapped up, Ontario Finance Minister Peter Bethlenfalvy said conversations around the pension issue had been \u201cvery collaborative.\u201d<\/p>\n
\u201cAlberta being in the pension plan\u2026 is good for Alberta, it\u2019s good for Canada, it\u2019s good for Ontario,\u201d he said.<\/p>\n
\u201cSo we\u2019re going to continue pushing that we have a process that\u2019s clear, that\u2019s timely, that\u2019s deliberate and thoughtful.\u201d<\/p>\n
But before the meeting began, Saskatchewan Finance Minister Donna Harpauer downplayed the need to take care of the pension issue immediately.<\/p>\n
\u201cThat\u2019s a very long process and it\u2019s not what is pressing and urgent today,\u201d she told reporters as she headed into the meeting.<\/p>\n Related Stories<\/p>\n